SILKRAILS.WORDPRESS.COM (GCTL8.com – FOCUSASIA MEDIA Ltd)
FRANKFURT, May 26 (FAM) – Hapag-Lloyd and United Arab Shipping Company (UASC) yesterday completed their merger, strengthening Hapag-Lloyd’s position as the fifth-largest liner shipping company in the world with 230 vessels and a shared fleet capacity of approximately 1.6 million TEU.
Rolf Habben Jansen, CEO of Hapag-Lloyd, described it as “an important strategic milestone and a big step forward for Hapag-Lloyd”. He added: “We now not only have a very strong market position in Latin America and the Atlantic, but also in the Middle East, where we will become one of the leading carriers. Our priority now is a smooth and fast integration of UASC and Hapag-Lloyd.”